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Does Section 179 apply to furniture?

IRS tax code Section 179, allows businesses to deduct the full purchase price of office furniture up to $1,000,000. Office furniture is any furniture nece...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

Is 14% APR a lot?

A good APR for a credit card is 14% and below. Some people might consider a good APR for a credit card to be anything below 19% because that’s roughly the...

Does tax bracket apply to all income?

How much you will actually owe depends on both your income and your filing status. For example, if you are a single filer, you will pay 10 percent on the ...

Can a 89 year old mother live alone?

My 89 year old mother can’t continue to live alone. One of my sisters has offered to share her home with Mother but wants to be compensated for providing ...

Can alimony be paid in a lump sum?

Lump sum alimony refers to a spouse fulfilling his or her entire alimony obligation at once, with a single lump sum payment. It is an alternative to payin...

Do you have to pay taxes if you run your own business?

Tax. How your business is taxed depends on whether it is incorporated as a company. If it is a company then it is liable for corporation tax. If your busi...

Can you contribute to 401k without employer contribution?

While the match is a nice benefit to have, it’s not the primary reason for having a 401(k) plan. Even without an employer match, your contribution to the ...

Can Social Security disability be counted as income?

The Social Security administration has outlined what does and doesn’t count as earned income for tax purposes. While the answer is NO, disability benefits...

Can I use my 401k as proof of funds?

Cash in the bank is the most liquid form of down payment money, but stocks, mutual funds and other assets also count as proof of funds. With a 401K, you c...

What are fixed rate bonds UK?

Fixed rate bonds are a type of fixed rate savings account. They offer higher rates of interest compared to easy-access products, but you must be prepared ...